Finra Bars Ex-Ameriprise, Voya FA for Failing to Show Up for Testimony

Self-regulator Finra has barred a broker for failing to appear for testimony as part of its investigation into allegations he misappropriated client funds while he was registered with Ameriprise FinancialServices and Voya FinancialAdvisors, according to a letter of acceptance, waiver and consent published on the industry self-regulator’s website.

James Knee was registered with Ameriprise from August 2012 to October 2015 and with Voya from November 2015 to August 2016, when Voya terminated his registration, Finra says. Voya terminated him for failing to cooperate with an internal investigation connected to a potential receipt by Knee of a cash gift from his client, according to Knee’s BrokerCheckprofile.

In March 2018, Finra requested Knee appear for on-the-record testimony connected to the investigation of fund misappropriation, and last month Knee told Finra through his lawyer that he would not appear for the hearing nor cooperate with the investigation, according to the letter of consent.

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Knee had been in the industry since 1988 and was affiliated with 10 broker-dealers during his career, according to BrokerCheck. He has five customer disputes on his record, starting with one in 2002 alleging unsuitable investments. That dispute, as well as two others, were denied, and two disputes were settled, according to Knee’s profile.